....so the S&P500 can be subject to easy manipulation now.
....the indices no longer represent the general market. In fact, it could be misleading at worse.
US stock market concentration is getting worse: The top 10 stocks now reflect ~38% of the S&P 500 market cap, near the all time high of 39% seen in June.
Over the last decade, this share has more than DOUBLED. To put this into perspective, in 2020, the top 10 companies accounted for just ~25% of the S&P 500. Now, this percentage even exceeds the 2000 Dot-Com bubble levels by ~12 percentage points.
A few key stocks *are* the stock market.
https://x.com/KobeissiLetter/status/1828418181678932215
Its Over, page-23431
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